Organigram (TSE:OGI) Hits New 12-Month Low – Here’s Why

Shares of Organigram Holdings Inc. (TSE:OGI) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$1.65 and last traded at C$1.66, with a volume of 112769 shares changing hands. The stock had previously closed at C$1.66.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OGI. Canaccord Genuity Group cut their price objective on Organigram from C$3.60 to C$3.15 and set a “speculative buy” rating for the company in a research report on Monday, December 9th. ATB Capital lowered their price target on Organigram from C$5.25 to C$3.50 in a research report on Tuesday, December 17th.

Organigram Stock Down 1.8 %

The company has a quick ratio of 2.62, a current ratio of 3.36 and a debt-to-equity ratio of 3.07. The business has a 50-day simple moving average of C$2.16 and a two-hundred day simple moving average of C$2.29. The stock has a market capitalization of C$201.37 million, a P/E ratio of -3.45, a PEG ratio of 0.42 and a beta of 1.13.

About Organigram

Organigram Inc is a Canadian licensed producer of cannabis products. Organigram focuses on producing exceptional, indoor-grown cannabis for patients and adult recreational consumers, as well as developing global business partnerships.